Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 87.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134,070 shares of the information technology service provider's stock after selling 925,959 shares during the quarter. SG Americas Securities LLC's holdings in Cognizant Technology Solutions were worth $10,310,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Addison Advisors LLC lifted its stake in shares of Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock valued at $26,000 after purchasing an additional 189 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Cognizant Technology Solutions during the third quarter worth about $30,000. Trust Co. of Vermont increased its position in shares of Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock valued at $34,000 after acquiring an additional 292 shares during the last quarter. Pinnacle Bancorp Inc. raised its stake in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider's stock valued at $35,000 after acquiring an additional 146 shares during the period. Finally, Eastern Bank acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter worth approximately $37,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock traded up $0.23 during trading hours on Friday, reaching $79.91. 540,240 shares of the stock were exchanged, compared to its average volume of 2,583,195. The stock has a market cap of $39.62 billion, a P/E ratio of 17.68, a P/E/G ratio of 2.06 and a beta of 1.07. The firm's 50 day moving average is $78.71 and its 200 day moving average is $76.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.46.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The firm's revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. Analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.50%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.55%.

Analysts Set New Price Targets

CTSH has been the subject of several research reports. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. TD Cowen upped their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. Mizuho lifted their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Robert W. Baird upped their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Barclays upgraded shares of Cognizant Technology Solutions from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $80.00 to $95.00 in a research note on Tuesday, December 17th. Fifteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Cognizant Technology Solutions currently has an average rating of "Hold" and an average target price of $81.19.

Insider Activity

In related news, CAO John Sunshin Kim sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company's stock.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.